@pushpendrakum Kuch nahi hone bala phir unhone finance minister banayega...jo govt education pe 18% gst lagata he .... crypto me to lega itna percentage lega tax ...no more expectations....jab tak govt na change ho...ladkh ko dekh lo Sonam Wangchuk bat nahi sun raha hai ๐
๐๐ Hereโs my request to the Finance Minister on Current Crypto Tax:
โ Equalize Crypto Tax with Stocks! (15% for Short term & 10% for Long term)
โ Allow Loss Setoff & Carry Forward โ
โ Remove 1% TDS, opt for SFT like stock exchanges
โ Provide Tax Exemption for new Mining โ๏ธ / Validator ๐ป companies in India ๐ฎ๐ณ
โ Allow UPi access on deposit
#reducecryptotax
What am I missing?
If your income is 1 Crore, you will roughly pay 40%+ tax in India.
(Plus indirect taxes)
Next year ---let's say-- you lose your job.
And your income goes to 0.
You will get 0 benefits.
Let me clarify the context:
- You won't send your kids to government schools.
- You won't avail treatment in a public hospital.
- You won't avail free ration.
Therefore there is no (REAL) safety net for people paying taxes in India.
This puts a lot of stress, pressure & a feeling of injustice.
That share your upside.
But, no one will give a shit about your downside.
And, this is what is precisely wrong with our taxation.
Govt to announce Interim budget on 1st February.
The Indian crypto led the #reducecryptotax movement & want positive changes in the coming budget.
Tax reforms are important & Indian govtย has a huge opportunity to turn this in their favor & attract major global investors.
India๐ฎ๐ณ government should be fix this๐
1๏ธโฃ30% Tax
2๏ธโฃ1% TDS
3๏ธโฃNo loss set off
We need for crypto industry growth and adoption.
๐TDS should be less
๐Loss set offย
๐๐ถ๐ธ๐ฒ โฅ๏ธ & ๐ฟ๐ฒ๐๐๐ฒ๐ฒ๐ if you want to support.
#reducecryptotax
India is number 1 in #Crypto ๐
Even though India has highest crypto taxation :
ย
โก๏ธ 30% Tax
โก๏ธ 1% TDS
โก๏ธ No loss offset
โก๏ธ No UPI support
This is big ๐ฅ
RBI governor for the first time is positive about the tokenisation of Real World Assets.
But he also said We have problems with a product called cryptocurrencies, not with blockchain technology. we are using blockchain technology in our CBDC.